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Canada allocates $1.5 billion to Ukraine to finance budget deficit

by Kateryna Hodunova March 21, 2024 9:19 AM 1 min read
Canadian Prime Minister Justin Trudeau during a news conference on Sept. 22, 2023, during President Volodymyr Zelensky's visit to Ottawa. (David Kawai/Bloomberg via Getty Images)
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Canada provided Ukraine with 2 billion Canadian dollars ($1.5 billion), which will be used to finance the budget deficit, including social assistance, Prime Minister Denys Shmyhal wrote on March 21 on X.

Canada has allocated almost 7 billion Canadian dollars ($5.19 billion) in financial aid to Ukraine since the beginning of Russia's full-scale invasion, according to Shmyhal.

"We are thankful to the Canadian people and the government, who remain our reliable allies in these difficult times," Shmyhal wrote.

Earlier, Canada pledged nearly $30 million to the Czech Republic's initiative to provide Ukraine with artillery shells, which are a crucial capability for Ukraine as the country faces critical ammunition shortages, and $60 billion in aid for Kyiv from the U.S. remains stalled in Congress.

Canada also officially joined Latvia- and U.K.-led drone coalition in March, additionally donating over 100 Canadian-made specialized drone cameras to Ukraine from L3 Wescam. Previously, Canada's Defense Minister Bill Blair said that Canada would supply Ukraine with over 800 SkyRanger R70 multi-mission drones.

European Commission delivers $4.8 billion to Ukraine in first tranche of macro-financial assistance
“Today we also made the first payment of 4.5 billion euros under the Ukraine Facility, our 50 billion euro ($54 billion) package to support the recovery, reconstruction and modernization of Ukraine,” said Josep Borrell, the EU’s top diplomat.
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